Website : Markets Mastered Website
Cost : £89
Author : Nick Kruger
Review Date : May/June 2009

WHAT IT SAYS ON THE WEBSITE

"We have been developing systems for over 7 years now and we also trade the systems ourselves" is the opening comment on the website. Nick then gives a background on the many systems he has seen for sale on the internet that miss a vital ingredient, profitability.

The website then offers up the following, "even if you have never looked at a price chart before today, we aim to set you up for a profitable career on the stock market", "email helpline - available for as long as you need it", a "money back guarantee" and finally "never had a losing week".

The two systems on offer will allow you to work "full time or perhaps just in the morning, before you go to work, or when you come home in the evening".

The comprehensive trading manuals "start with the basics" then move onto "more advanced methodology regarding price movements and market sentiment" and will mean that "this is the only place you will need to complete your induction in financial trading training".

The two manuals on offer are the FTSE 100 Day Trader (review coming soon) and Trade With A Day Job, we are reviewing the S&P Evening Trader (Trade With A Day Job) manual here.

This system "does exactly as it says on the tin, and enables you to become a successful part time trader". The system was designed and released in 2005 and is aimed at people who "already have a day job but wish to embark on a career in financial trading, but are unable at present to quit their day jobs and become a full time trader". The manual "will take you through the basics of trading between 17:00 and 21:00 and enable you to earn small, but consistent amounts of money each day".

You can start trading this system "with just a few hundred pounds", "after 17:00" and "we will guide you through everything you need to know". It is not a get rich quick scheme but a "'Get Rich Slowly and Steadily' scheme", that has been "traded successfully by myself and others for years". "We use this system to earn our wages", slightly contradicts the one made for the FTSE 100 Day Trader system whereby it states that trading that system "is my only means of income".

Anyway, the system is operated from 17:00 (UK local time) but can be started later, although you may miss some trades by doing this. Most evenings there are two or three trades, sometimes only one. Once the trade is over, usually after 10-20 minutes you are finished for the day, the aim being to earn 20 points per evening. "Past performance shows that trading 17:00 and onwards results in very few losing days".

There is then an example of how a £500 starting bank can become £6,500 after only 6 months. This is based on making 20 points every evening trading 20 evenings a month starting with £1 per point and increasing by £1 per point each month (after trading the first month on a demo account to get used to the system). So, "after only 6 months of trading you could be earning an extra £2,000 per month, part time, trading in the evening". These figures seem to assume 120 trading evenings in a row where one makes 20 points each and every single day. We have yet to see any kind of system that delivers this kind of consistency.

However, "Many old customers have given up their jobs after starting with the evening system and have moved onto the FTSE 100 Day Trader system and now trade full time when it suits them". If this system does deliver as per above, we would see no reason or need to move onto another system, never, ever, never.

There is one months access to the members area blog after purchasing the system to "access the details of the trades from the previous evening so you can check them against your own trades to check you have grasped the strategy". One is also "able to ask any stupid questions you may have while you are getting the hang of it".

There is a Money back guarantee, "If the system laid down in the manual is not profitable for two weeks from when you start trading, we will refund the total amount paid. A truly risk-free opportunity."

THE PURCHASE

We bought the S&P Evening Trader manual on the website via Paypal for £89.

THE MATERIAL

The 43 page manual opens with an introduction in which Nick specifies that he uses this system to trade himself and that "it is my only means of income". The method took nearly a year of tweaking and is based on leading and not lagging indicators.

There is a section on opening accounts and chart configuration using Capital spreads. This is well explained and is straight forward, one industry standard indicator only on a 5 minute candlestick chart.

The remainder of the manual concentrates on the strategy, defining the Entry, Target and Stop criteria. It is quite clear and well presented. The rules of divergence are well explained as is the reliance on specific candlestick (reversal) patterns to confirm entry, e.g. Hammers, Shooting stars, Harami's, etc.

Entry is quite clear, basically after a confirming candlestick (reversal) pattern and divergence have been identified. This does mean that one has to learn and be able to quickly and easily identify divergence and the specific reversal patterns. However, as Nick points out, this is a matter of practice and becomes second nature after a while. "Paper" trading, as Nick suggests, the system for a month, should provide most with sufficient time to become proficient enough.

The last 10 pages focus on spotting divergence, about to occur, and a quite detailed summary of the various candlestick (reversal) patterns to look out for.

Target is 20 points (2 S&P points actually) with a Stop behind the high/low point of the candlestick pattern giving confirmation for entry. Note: as Nick mentions, the target is actually 24 on the charts as the spread for this instrument is 4.

No mention of Risk per trade but we applied our usual 2% risk of balance per trade, which is the level we are comfortable with for (intra)-day trading.

In summary, a well written and clear to understand manual. Divergence and Candlestick (reversal) pattern recognition may be relatively new to some so there may well be quite a learning curve here for some. That said, the manual does go into sufficient detail to allow one to learn.

THE SYSTEM IN THEORY

Implementation in terms of chart set-up is easy.

The logic for Entry also makes sense, in terms of looking for divergence and then a confirming candlestick (reversal) pattern for entry. This is the aspect of the system where we can see room for ambiguity, divergence and the recognition of the reversal pattern, but that said, practice should eliminate most of this.

Stops and Targets are quite straight forward as explained above. As mentioned previously there is a little room for ambiguity but not too much.

This system just about falls into what we would consider a scalping method, so one has to be reasonably quick here with identification and execution.

THE SYSTEM IN PRACTICE

In practice, identifying a signal was easy enough, after some back-testing and some real-time trading (on a small account). We considered ourselves proficient enough with divergence and candlestick (reversal) patterns to trade a small account, which by the way we always think is much better than simply paper trading, where possible, a matter of preference.

However, in practice, we didn't achieve the results mentioned on the website (or the occasional updates we received), we actually ended up in the red after 3 weeks of trading, albeit by a small amount. The main reason for this was our interpretation of divergence. Between us, we were happy we were following the rules, according to divergence and candlestick (reversal) patterns, as per the manual. However, the trades we identified and traded did not line up with or match the trades Nick was reporting.

After some to and fro of emails we took it upon ourselves to accept that our concerns about differing opinions and interpretation of divergence could be an issue here, for us it was.

CAN IT WORK

Possibly, the logic seems sound enough to us.

However, what was clearly different for us was the trades we were taking compared to the ones reported. We just couldn't "get in tune" with Nick's view of divergence compared with ours. For this reason, we couldn't replicate the results and thus couldn't make the system work.

This is not say it will not work, its just to say that interpretation of divergence and a candlestick (reversal) pattern at the same time is not a clear cut thing and there is always some room for a difference of opinion. In our case it was too much.

SUPPORT

Emails were usually answered within 24 hours but there was no blog providing daily commentary of trades. And, we seemed to only get a couple of email updates a week on trades taken that day.

CONCLUSION

PRO's
- Easy to set-up and system logic seems sound.
CON's
- For us, too much room for different interpretation of divergence.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

Originally Posted by Reviewteam

MARKETS MASTERED S&P EVENING TRADER (Intra)


CAN IT WORK

Possibly, the logic seems sound enough to us.

However, what was clearly different for us was the trades we were taking compared to the ones reported. We just couldn’t "get in tune" with Nick's view of divergence compared with ours. For this reason, we couldn’t replicate the results and thus couldn’t make the system work.

This is not say it will not work, its just to say that interpretation of divergence and a candlestick (reversal) pattern at the same time is not a clear cut thing and there is always some room for a difference of opinion. In our case it was too much.

PRO's
• Easy to set-up and system logic seems sound.
CON's
• For us, too much room for different interpretation of divergence.

ReviewTeam - www.systemsfortraders.com

Ditto Same problem I had, divergence is in the "eye of the beholder" IMO

I will say Nick did work tireless to help me "Get It" But obversely I was too thick.

BTW: the FTSE system is almost all divergence.

I will say if you could get the divergence down to how Nick sees it you'd be OK I think.

Hi,

Thanks for the post and once again we are glad that our review has been quantified by at least one of the collective as being accurate.

I think the expression "too thick" is a little unfair as we also experienced the same issues, we can also confirm that Nick also tried tirelessly to help us "get it". But, we just didn't, so we moved on.

On a final note, agreed, if one can "get it" we too believe one would be OK.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

I tried this system.

The rules are simple but my main issue was identifying the predominant trend, as you can get one pattern of divergence overlapping another. Which is going to be predominant appears to be guess work.

Nick is an honest guy though.

Hi Steve,

Agreed, our interpretation of divergence was the main issue and also have to agree - Nick seems to be an honest guy and one that genuinely wants to help. But, try as we may, we couldn't get on that same divergence vibe/wave-length!

Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

Hi,

I have purchased this system too. I'm ok with seeing divergence and the daily screenshots from Nick are a very big help. I just haven't learnt all the candlestick patterns.
I'm now able to spot some of the most common ones though.

I am not quite making 20pips a day as Nick, but just taking profit at around 10pips. Plus some days I don't see the same trading opportunity that Nick does, but I hope that will change with experience.

I think this is a nice system to use so far

Raj

Thanks Raj, always great when people post some time after the review with up to date experiences, appreciate you providing some updates along the way.

Thanks for that report..................I have had the same problem and gave up after 6 weeks, as I could not replicate the results or get anywhere near them!
I lost money on all the 6 weeks trading, although I did have the occasional winning day, more by good luck than good management I suspect.

Originally Posted by mac195

Thanks for that report..................I have had the same problem and gave up after 6 weeks, as I could not replicate the results or get anywhere near them!
I lost money on all the 6 weeks trading, although I did have the occasional winning day, more by good luck than good management I suspect.

Hi, don't give up on this. This sytem does work, but you have to know your candlestick patterns. I'm only trading at the moment by seeing the most regular/obvious patterns, such as harami, engulfing,doji,hammer patterns.

I made a trade today for 15 pips. I saw a doji at 19.05 and went long. Somedays I don't see anything. Most days a pattern will appear between 5 - 7pm

Raj

2 trades today. One loser followed by a winner.
The loss was 8 pips, followed by a win of 20 pips.
This course teaches you to trade and make 20 pips, but I normally just go for 10.
But today, I went for that bit extra to cover the loss from my first trade